Unusual Machines Target of Unusually Large Options Trading (NYSEAMERICAN:UMAC)

Unusual Machines, Inc. (NYSEAMERICAN:UMAC - Get Free Report) saw unusually large options trading activity on Wednesday. Traders acquired 7,165 call options on the company. This represents an increase of 710% compared to the average daily volume of 885 call options.

Insider Transactions at Unusual Machines

In other Unusual Machines news, CFO Brian Joseph Hoff sold 83,775 shares of the company's stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $5.70, for a total value of $477,517.50. Following the completion of the transaction, the chief financial officer now directly owns 359,225 shares in the company, valued at approximately $2,047,582.50. This represents a 18.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 22.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Unusual Machines

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Signaturefd LLC bought a new stake in Unusual Machines during the fourth quarter valued at about $25,000. SBI Securities Co. Ltd. raised its stake in shares of Unusual Machines by 31.0% in the first quarter. SBI Securities Co. Ltd. now owns 10,951 shares of the company's stock worth $70,000 after buying an additional 2,591 shares during the period. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Unusual Machines during the 1st quarter valued at about $27,000. NewEdge Advisors LLC bought a new position in shares of Unusual Machines during the 4th quarter valued at approximately $84,000. Finally, OMERS ADMINISTRATION Corp purchased a new stake in Unusual Machines in the 4th quarter worth approximately $209,000.

Analyst Ratings Changes

Separately, Litchfield Hills Research began coverage on shares of Unusual Machines in a research report on Wednesday, February 19th. They set a "buy" rating and a $20.00 price target for the company.

Unusual Machines Trading Up 13.8%

UMAC traded up $0.90 during mid-day trading on Friday, reaching $7.42. 10,116,943 shares of the company traded hands, compared to its average volume of 1,760,647. The company's fifty day moving average price is $5.54 and its 200-day moving average price is $7.18. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.24 and a quick ratio of 0.95. Unusual Machines has a 52-week low of $1.13 and a 52-week high of $23.62.

About Unusual Machines

Unusual Machines, Inc designs, manufactures, and sells ultra-low latency video goggles for drone pilots. It operates a drone-focused e-commerce marketplace. The company serves drone pilots, hobbyists, and recreational services. The company was formerly known as AerocarveUS Corporation and changed its name to Unusual Machines, Inc in July 2022.